KCM to renew MOU with UNZA School of mining
October 22, 2015
KCM CEO Steven Din recently led a team of KCM executives on a visit to the University of Zambia (UNZA) School of mining. The purpose of the visit was to discuss further collaboration between the two parties which would culminate into the renewal of an MOU which has been in place since 2005.
The team met the Vice Chancellor Prof. Enala Tembo Mwase and other UNZA officials after which Mr. Din gave a presentation to the students studying various disciplines in mining.
He said there was need to maintain cordial relations between the school and KCM because both institutions had much to benefit from each other.
During his presentation, Mr. Din gave an overview of the KCM operations regarding the three mines it operates, general performance of the company and the history of KCM under its parent company London listed Vedanta Plc.
Answering questions on how KCM was managing its operations in the face of low copper prices and the power deficits, Mr. Din told the gathering that the current situation was affecting the company’s operations but was quick to point out that KCM was still trying to run its operations in the most efficient and cost effective manner in order to save jobs and sustain livelihoods on the Copperbelt.
“The company has a strong reserves and resource base which will sustain the company for decades to come. We have around 25 years of production in our reserve base and a resource base that I expect to enable us to increase this.”
He noted that the company was spending more on production but getting much less out of it because though prices have gone down and demand has reduced significantly, the company’s production costs and labour costs remained the same.